Horizon Digital Frontier ETF (YNOT) Valuation
YNOT valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 31.2 trailing earnings
- Forward P/E
- 21.7 analyst estimates
- Price / sales
- 2.11
- Price / book
- 6.61
- EV / EBITDA
- 20.1
- Earnings yield
- 3.20% inverse of P/E
- Dividend yield
- 0.77% of the holdings
- Return on equity
- 21.2% combined
- Net margin
- 6.8% combined
- Beta
- 1.49 weighted, vs S&P 500
YNOT valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| YNOT | 31.2 | 21.7 | 2.11 | 6.61 | 0.77% | 21.2% | 6.8% | 6.7% |
| SPY | 25.9 | 19.9 | 3.67 | 5.47 | 1.08% | 21.1% | 14.2% | 1.9% |
| QQQ | 34.2 | 23.4 | 5.93 | 9.27 | 0.58% | 27.1% | 17.4% | 6.9% |
| DIA | 20.9 | 18.4 | 3.16 | 5.52 | 1.55% | 26.4% | 15.1% | 0.0% |
| VTI | 28.2 | 19.4 | 3.31 | 5.00 | 1.07% | 17.7% | 11.8% | 4.6% |
| IWM | n/m | 13.9 | 1.25 | 2.03 | 1.38% | −1.7% | −1.0% | 28.1% |
Same method for every fund. n/m = not meaningful (combined trailing earnings below zero or close to it). Loss-makers = weight of holdings with negative trailing earnings.
YNOT valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Technology | 45.5% | 37.0 | 22.6 | 8.46 | 11.25 | 0.55% | 30.4% |
| Industrials | 14.7% | 54.1 | 27.9 | 3.07 | 7.37 | 0.71% | 13.6% |
| Consumer Cyclical | 7.4% | 44.9 | 45.2 | 3.14 | 7.36 | 0.04% | 16.4% |
| Communication Services | 5.1% | 17.1 | 21.2 | 9.42 | 6.94 | 0.24% | 40.6% |
| Financial Services | 5.0% | 16.0 | 12.8 | 0.30 | 1.82 | 1.92% | 11.4% |
| Basic Materials | 4.5% | 19.9 | 15.1 | 2.17 | 4.01 | 3.24% | 20.1% |
| Healthcare | 1.5% | 26.9 | 19.7 | 0.29 | 5.04 | 0.37% | 18.7% |
| Consumer Defensive | 1.4% | 17.4 | 15.3 | 0.68 | 2.86 | 1.76% | 16.4% |
| Energy | 1.4% | 7.4 | 6.1 | 0.38 | 1.35 | 5.20% | 18.2% |
| Utilities | 1.0% | 26.3 | 18.3 | 2.97 | 3.87 | 0.63% | 14.7% |
YNOT earnings yield vs bond yields
Earnings yield = earnings ÷ price (1 ÷ P/E). The gap to bond yields is a rough gauge of the extra return stocks are priced to deliver.
How YNOT weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
YNOT largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| EWT | iShares MSCI Taiwan ETF | 9.05% | — | — | — | — | — |
| NVDA | NVIDIA Corporation | 6.84% | 27.1 | 24.9 | 17.1 | 0.47% | 9.86% |
| TSLA | Tesla, Inc. | 4.29% | 328.4 | 158.7 | 13.5 | — | 0.51% |
| AMD | Advanced Micro Devices, Inc. | 3.87% | 134.9 | 39.5 | 20.9 | — | 1.12% |
| GOOG | Alphabet Inc. | 3.72% | 16.9 | 21.8 | 9.2 | 0.26% | 8.58% |
| AMZN | Amazon.com, Inc. | 2.82% | 20.1 | 23.6 | 3.5 | — | 5.47% |
| EWY | iShares Inc. - iShares MSCI South Korea ETF | 2.56% | — | — | — | — | — |
| J | Jacobs Engineering Group Inc. | 2.30% | 46.9 | 16.9 | 1.2 | 1.02% | 1.91% |
| SNDK | Sandisk Corporation | 2.27% | 17.6 | 8.0 | 9.3 | — | 5.02% |
| ASML | ASML Holding N.V. | 2.21% | 40.4 | 28.9 | 16.0 | 0.55% | 2.14% |
| GEN | Gen Digital Inc. | 1.78% | 14.1 | 9.3 | 2.8 | 2.07% | 4.92% |
| AVGO | Broadcom Inc. | 1.67% | 43.3 | 19.4 | 17.6 | 0.79% | 1.51% |
| CAT | Caterpillar Inc. | 1.66% | 31.5 | 25.4 | 4.5 | 0.89% | 2.06% |
| CSCO | Cisco Systems, Inc. | 1.54% | 32.2 | 19.8 | 6.7 | 1.56% | 1.86% |
| AMAT | Applied Materials, Inc. | 1.52% | 35.3 | 23.4 | 10.5 | 0.52% | 1.68% |
| MCK | McKesson Corporation | 1.49% | 26.9 | 19.7 | 0.3 | 0.37% | 2.16% |
| DELL | Dell Technologies Inc. | 1.46% | 26.3 | 21.3 | 1.9 | 0.56% | 2.16% |
| ORCL | Oracle Corporation | 1.45% | 20.1 | 17.8 | 5.4 | 1.56% | 2.81% |
| ROK | Rockwell Automation, Inc. | 1.41% | 39.9 | 29.8 | 5.3 | 1.30% | 1.38% |
| AIG | American International Group, Inc. | 1.41% | 14.8 | 8.5 | 1.6 | 2.48% | 3.71% |
| INTC | Intel Corporation | 1.39% | — | 63.3 | 8.3 | — | −1.28% |
| DG | Dollar General Corporation | 1.38% | 17.4 | 15.3 | 0.7 | 1.76% | 3.09% |
| SPCX | Space Exploration Technologies Corp. | 1.36% | — | 200.0 | 83.5 | — | −0.23% |
| CRWD | CrowdStrike Holdings, Inc. | 1.36% | — | 208.3 | 43.1 | — | 0.01% |
| CGNX | Cognex Corporation | 1.30% | 51.9 | 29.5 | 8.3 | 0.63% | 0.97% |
Share of earnings = the holding's part of the fund's combined trailing profit. Green: earns more than its weight; orange: less. Symbol links go to each company's key metrics.
About YNOT valuation
Adding up its 83 holdings with company data, YNOT trades at 31.2 times trailing earnings and 21.7 times analysts' forward estimates, with a price-to-book ratio of 6.61 and a dividend yield of 0.77%. Its earnings yield of 3.20% is 2.12 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 39.9% of the fund and earn 41.0% of its combined profit. By sector, Industrials is the most expensive at 54.1 times earnings and Energy the cheapest at 7.4. Companies that lost money over the past year are 6.7% of the covered weight.
How these figures are calculated. Each ratio treats the fund as one company: the earnings, sales and book value of every holding are added up in proportion to its weight and divided into the fund's price. In practice that is a weighted harmonic mean, so a single stock with a very high P/E cannot distort the result, and loss-making companies reduce the fund's earnings instead of being dropped. Covers 80.1% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: YNOT chart, YNOT performance, YNOT holdings.
YNOT valuation FAQ
What is the P/E ratio of YNOT?
Based on its holdings, YNOT has a trailing P/E of 31.2 and a forward P/E of 21.7 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of YNOT?
The trailing earnings yield is 3.20% (1 ÷ P/E) and the forward earnings yield 4.60%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is YNOT more expensive than the S&P 500?
YNOT trades at 31.2 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 21.7 and 19.9.
What is the price-to-book ratio of YNOT?
The holdings of YNOT trade at 6.61 times book value, with a combined return on equity of 21.2%.
Which sector in YNOT has the highest P/E?
Industrials has the highest P/E at 54.1 and Energy the lowest at 7.4.